FDF
45_day_id_reverse_Worksheet.pdf
45-Day Identification Form
For Use in a Reverse Exchange
The 45-day identification requirement remains in effect for reverse exchanges that involve
parking the Replacement Property (an “Exchange Last”). The ID requirements are satisfied
by identifying one or more assets as potential Relinquished Property, the sale of which
during the period ending 180 days after the acquisition of the Replacement Property by the
EAT is required in order to complete the exchange.
There is no need to make a separate identification if the reverse exchange strategy used is
one in which the Relinquished Property is parked (an “Exchange First”).
It is your responsibility to make the identification in writing. You may deliver the
identification to ExStra via US Mail, Over Night Delivery, fax or email no later than midnight
on the 45th day of the identification period. You may deliver the identification to a 3
rd
-party
(i.e. a broker or attorney) but you should still notify your Accommodator immediately
thereafter.
The two identification rules used most frequently in reverse exchanges are:
The Three-Property Rule
: up to 3 properties with any value can be identified and
any or all of them can be sold as Relinquished Property in order to complete the
reverse exchange. A fillable form for identifying with the Three-Property Rule is on
the second page of this document.
The 200% Rule
: any number of properties can be identified and sold before the
180
th
day as long as their aggregate Fair Market Value on the 45
th
day of the
exchange period does not exceed 200% of the purchase price of the Replacement
Property. A fillable form for identifying with the 200% Rule is on the third page of
this document.
When the appropriate form is complete, you may deliver it to us using the following contact
information:
Exchange Strategies Corporation
900 E. Hamilton Ave., Ste. 100
Campbell, CA95008
Fax: 888-876-3583
Email:
[email protected]
45-Day Identification Form
For Use in a Reverse Exchange
Exchangor
Replacement Property
EAT
Close Date
45-Day ID Deadline
The 45-day Identification requirements are hereby satisfied using the Three
Property Rule:
One
Two
Three
Submitted by the Exchangor
Receipt Acknowledged
Signed:
Signed:
Name:
Name:
Date:
Date:
45-Day Identification Form
For Use in a Reverse Exchange
Exchangor
Replacement Property
EAT
Close Date
45-Day ID Deadline
The 45-day Identification requirements are hereby satisfied using the 200% Rule:
1)
FMV
2)
FMV
3)
FMV
4)
FMV
5)
FMV
6)
FMV
TOTAL FMV
Total
Attach additional sheets as required.
Submitted by the Exchangor
Receipt Acknowledged
Signed:
Signed:
Name:
Name:
Date:
Date: